Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 30.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 47,276 shares of the company’s stock after acquiring an additional 11,165 shares during the period. Hsbc Holdings PLC’s holdings in Adaptive Biotechnologies were worth $289,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in Adaptive Biotechnologies by 17.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock valued at $20,209,000 after purchasing an additional 489,555 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Adaptive Biotechnologies by 3,290.8% during the 4th quarter. Prudential Financial Inc. now owns 481,965 shares of the company’s stock valued at $2,889,000 after acquiring an additional 467,751 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter worth about $1,480,000. Cinctive Capital Management LP purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $1,447,000. Finally, Swiss National Bank acquired a new position in Adaptive Biotechnologies during the fourth quarter worth approximately $1,218,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADPT. Piper Sandler restated an “overweight” rating and set a $13.00 price objective (up from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday. Morgan Stanley raised their price objective on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Scotiabank boosted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group raised their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average target price of $9.83.

Insider Buying and Selling

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 158,921 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,798,890.46. This represents a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Harlan S. Robins sold 68,412 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the sale, the insider now directly owns 1,279,524 shares of the company’s stock, valued at $9,404,501.40. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 826,013 shares of company stock worth $6,543,452. 6.20% of the stock is currently owned by corporate insiders.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock opened at $9.03 on Friday. Adaptive Biotechnologies Co. has a one year low of $2.99 and a one year high of $10.28. The stock’s 50 day moving average price is $7.84 and its 200 day moving average price is $7.01. The firm has a market capitalization of $1.37 billion, a PE ratio of -8.28 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. During the same period last year, the business earned ($0.33) EPS. The business’s revenue was up 25.2% on a year-over-year basis. On average, analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Adaptive Biotechnologies Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.